Good Reason Condition definition
Good Reason Condition means that any of the following are undertaken without Executive’s express written consent: (i) a material diminution in Executive’s authority, duties, or responsibilities which substantially reduces the nature or character of Executive’s position with the Company; (ii) a material reduction by the Company of Executive’s base salary as in effect immediately prior to such reduction; (iii) a relocation of Executive’s principal office to a location more than fifty (50) miles from the location of Executive’s principal office as of immediately prior to such relocation, except for required travel by Executive on the Company’s business; or (iv) any material breach by the Company of any provision of Executive’s employment agreement or offer letter agreement which the Company does not cure within 30 days following written notice thereof from Executive.
Good Reason Condition means that any of the following are undertaken without Executive’s express written consent:
(a) a material reduction in Executive’s Base Salary (other than as part of a reduction in the base salary of at least a majority of the Company’s executives of the same or greater percentage);
(b) the Company’s material breach of any material term of this Agreement (a change in job title or role does not constitute a material breach); or
(c) a requirement that Executive relocate to an office that would increase Executive’s one-way commute distance by more than fifty (50) miles based on Executive’s primary residence at the time such relocation is announced.
Good Reason Condition means that any of the following are undertaken without Executive's express written consent:
(a) a material reduction in Executive's Base Salary;
(b) a material diminution in Executive's responsibilities;
(c) the Company's material breach of any material term of this Agreement; or
(d) a requirement that Executive relocate to an office that would increase Executive's one-way commute distance by more than fifty (50) miles based on Executive's primary residence at the time such relocation is announced.
Examples of Good Reason Condition in a sentence
If the Company cures the Good Reason Condition during the Cure Period, Good Reason shall be deemed not to have occurred.
If the Good Reason Condition is not remedied within the period specified in the preceding sentence, Executive may resign for Good Reason based on the Good Reason Condition specified in the notice, provided that such resignation must occur within sixty (60) days after the initial existence of such Good Reason Condition.
In order for a resignation to constitute a Voluntary Resignation for Good Reason, Executive must provide written notice to the Company of the existence of the Good Reason Condition within thirty (30) days of the initial existence of such Good Reason Condition.
The Company shall have the opportunity to cure the Good Reason condition within thirty (30) days following receipt of the Executive’s Termination Notice, provided that if the Company has not notified the Executive in writing of its intention to cure the Good Reason Condition within ten (10) days following receipt of the Executive’s Termination Notice, the Company shall be deemed to have irrevocably elected not to cure the Good Reason condition.
Upon receipt of such notice of the Good Reason Condition, the Company will be provided with a period of thirty (30) days during which it may remedy the Good Reason Condition and not be required to provide for the payments and benefits described in Sections 3 or 4 as a result of such proposed resignation due to the Good Reason Condition specified in the notice.
More Definitions of Good Reason Condition
Good Reason Condition a material diminution in the Executive’s title, responsibilities, authority or duties; or a material reduction in the authority, duties, or responsibilities of the CEO to whom the Executive is required to report;
Good Reason Condition a material diminution in the Executive’s title, responsibilities, authority or duties;
Good Reason Condition the assignment to the Executive of any duties inconsistent with the position in the Company and its affiliates that the Executive held immediately prior to the Change in Control that results in a material diminution in the Executive’s authority, duties or responsibilities, a significant adverse alteration in the nature or status of the Executive’s responsibilities or the conditions of the Executive’s employment from those in effect immediately prior to the Change in Control that results in a material diminution in the Executive’s authority, duties or responsibilities, or any other action by the Company or any of its affiliates that results in a material diminution in the Executive’s position, authority, duties or responsibilities from those in effect immediately prior to the Change in Control;
Good Reason Condition means that any of the following are undertaken without Executive’s express written consent:
Good Reason Condition means that any of the following are undertaken without Executive’s express written consent:
(a) a material diminution in Executive’s authority, duties, or responsibilities which substantially reduces the nature or character of Executive’s position with the Company;
(b) a reduction by the Company of Executive’s Base Salary (as defined in Section 3.1 below) as in effect immediately prior to such reduction (disregarding any reduction in base salary that would give rise to Executive’s right to a resignation for Good Reason);
(c) a relocation of Executive’s principal office to a location more than fifty (50) miles from the location of Executive’s principal office as of immediately prior to such relocation, except for required travel by Executive on the Company’s business; or
(d) any material breach by the Company of any provision of this Agreement which the Company does not cure within 30 days following written notice thereof from Executive.
Good Reason Condition means the occurrence of any of the following events without Executive’s consent: (v) a material diminution of the Executive’s authority, duties, or responsibilities or an adverse change in his title or position, (w) the Company’s material breach of this Agreement or any equity grant agreement between Executive and the Company, (x) a reduction in Executive’s Base Salary or target Annual Bonus, except for a change not exceeding ten percent (10%) of the total Base Salary and target Annual Bonus and in which Executive is impacted in substantially the same manner as the other executive-level employees of the Company, (y) a requirement by the Company that Executive’s employment location is required to move to a location that is more than twenty (20) miles from Executive’s primary place of residence as of the date of his execution of this Agreement, or (z) any other reason which would be considered to amount to constructive dismissal by a court at law.
Good Reason Condition means: (A) a material diminution in the Employee’s responsibilities, authority or duties; (B) a ten percent (10%) or greater reduction in the Base Salary (other than across-the-board salary reductions based on the Company’s financial performance similarly affecting all or substantially all senior management employees of the Company); (C) a requirement that Employee relocate from Charlotte, North Carolina; (D) a requirement that Employee work away from Charlotte, North Carolina more than fifteen days per month in three or more consecutive months; or (D) a material breach by the Company of this Agreement.